UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget
The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.
FCA & Rules
Anxiety over war, wildfires and cyber-attacks leads to growth in cash stocks in EU
The number of banknotes in circulation in the EU is increasing despite widespread smartphone payments, new data shows, with wildfires ripping through parts of Europe fuelling demand for an emergency s…
Back on track: can Burnham fix the north’s woeful rail services?
For passenger rail travel, the north of England was the future, once. But since that first train from Darlington to Stockton in 1825, many have felt short-changed. As one angry passenger put it, 200 y…
Panama canal to reduce shipping as El Niño strikes vital route
Further restrictions on shipping lane possible as Central America gripped by severe drought
Why the US economy is ringing alarm bells
What with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer.
Federal Reserve Board issues enforcement action with SouthPoint Bancshares, Inc. and announces termination of enforcement action with Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch
The Federal Reserve Board on Thursday announced the execution of the following enforcement action listed below:
Federal Reserve Board announces approval of application by National Westminster Bank Plc
XRP’s price (XRP-USD) climbed more than 11% in a single day to reach $1.23. This is a big change for XRP after weeks of flat price moves where it stayed trapped between $1.00 and $1.13.
Mark Zuckerberg buys 440-acre Strancally castle estate in Ireland
It stretches the definition of pied-à-terre but Mark Zuckerberg now has a pad in Ireland: Strancally castle.
UK cinemas look at banning Meta smart glasses over piracy fears
Trade body says local chains would have to balance concerns with potential benefits of AI-enabled technology
Specsavers pays £12m dividend to parent company after jump in earnings
Pre-tax profits rose at high street opticians to £429.7m in the year to February while sales rose 7% to £4.3bn
Travelodge boss quits amid fallout over hotel chain’s security failings
Joanna Boydell steps down after widespread criticism over company’s handling of guest safety issues
Lewes rail line to reopen in September as work under way to remove train
The East Sussex railway line on which a train derailed will reopen in September as crews continue to remove the carriages that left the track.
Why is the Trump administration causing turmoil in the bond markets? | Richard Partington
As yields are dragged higher in the UK, Europe and Japan, the impact for consumers and businesses will be far-reaching
Federal Reserve Board issues enforcement actions with former employee of Regions Bank and former employee of United Community Bank
The Federal Reserve Board on Thursday announced the execution of the enforcement actions listed below:
Founder of China’s Evergrande jailed for life after pleading guilty to fraud
The founder of Evergrande, one of China’s largest property developers, has been sentenced to life in prison and had all of his personal property confiscated.
Consumers warned to beware of risky mini-bonds and loan notes
The FCA is warning consumers about the risks of investing in loan notes and mini-bonds issued by unregulated companies, after continuing to see people lose money in these high-risk investments.
Unregulated loan notes and mini-bonds: don't risk your savings on promises of high returns
We banned the marketing of speculative mini-bonds and loan notes to ordinary retail investors from 1 January 2021.
Sales of trainers dive as cost of living pressures hit JD Sports performance
Sports fashion retailer JD has slashed its profit forecasts as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers.
Oxfam ‘can’t guarantee future’ of charity shops as it also reviews warehouse business
Oxfam is reviewing the operations of its three warehouses in Batley, Bicester and Milton Keynes and says it “cannot give guarantees” on the future of its high street shops in a “difficult economic cli…
US gross national debt tops $40tn for first time
US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.
US long-term borrowing costs ease after government steps in
Long-term borrowing costs in the US eased on Wednesday after the Treasury department announced it would buy back more debt.
Can Andy Burnham rewire the ‘Treasury brain’ to boost growth?
Andy Burnham is far from the first prime minister to dream of taming the power of the mighty Treasury.
Zuckerberg lied about concern for child safety, Meta whistleblower testifies at landmark trial
Meta has taken a “don’t ask, don’t tell” strategy when it comes to the safety of children on its social media platforms, according to a whistleblower who testified during a landmark trial against the …
US treasury doubles debt buyback to steady bond market amid inflation fears
The US treasury is doubling its buyback of government debt in an effort to balance out the bond market as officials at the US Federal Reserve remain divided over how to deal with high inflation.